Our bailout is a big one!

According to this MSNBC article. the current spending of $250 billion is akin to about $1.6 billion 1932 dollars.

This is a lot of money, because the Reconstruction Finance Corp. (created by President Hoover) which was formed back then to do a similar thing during the Great Depression...invest in banks....they spent only $1.1 billion!

Given that the current $250 billion is only a drop in the $700 billion pool we call the bailout....well, then you can see that we are indeed using a big hammer! (compared to FDR during the Depression anyways)

OMG: $700 billion isn't enough?

This afternoon the Senate version of the $700 billion bailout bill passed the house....and at that moment the stock market decided the take it's 20o point gains for the day and slide them into about a 158 point loss.

What happened? I thought there was much need and interest in this package by Wall Street.....I thought that until I read this article titled - "Credit markets to Washington: Bailout isn't enough".

What is going on here folks....have we just been had?

Was all this a sham....made up to extract $700 billion from taxpayers? I don't believe it.....or as the article notes.....perhaps the mass population of people (read that majority) who thought the bailout was wrong....well, maybe they were actually right!

We shall see.....hopefully we are finding our way out of the woods.....in the mean time, I'm thinking of investing in Mattress Makers......and perhaps coming up with a special patented design that remains comfortable being stuffed with greenbacks.

Economy uncertain, the Markets seesaw and PETA is outraged and working overtime!

With the economy stuck in neutral, the financial sector frozen and close to insolvent, the stock market doesn't quite know what to do.....

Yesterday everyone was looking at economic statistics on jobs, housing sales, inflation and factory production. Today no one seems to be looking at the fundamentals and everyone is staring and waiting to see what sort of bailout plan is being passed.....

It seems that equity markets rise and fall on an almost daily basis.....and we see a rapid seesaw action in the big averages.

All of this has resulted in a massive increases in the regular "around the water cooler" discussions of meat, and this have the people at PETA outraged!

Because of the up and down "grinding" of the markets:

• Bulls get slaughtered
• Bears get ground into hamburg
• The position of "cash cows"(sometimes known as Chickens) is slowly getting softened by rising inflation

In an odd turn, PETA might actually be hoping for the bailout, because with it, the Pigs that normally get slaughtered will be saved! (Especially true of the high level piggy CEOs and leaders....but then I should have seen this coming from my reading of Animal Farm!)

It truly is an odd world we live in.....

What some others think of our Present Situation and the Bailout.....

Pat Buchanan isn't conviced it is the right approach....he writes "Bailout For the Big and Stupid"

Alan Keyes conference call labels it "...a transformation to Socialism".

Chuck Norris says we need to go back to the values of our countries founding fathers.

Ron Paul isn't happy.....

Jack Welsh...."We need this bailout."

Warren Buffet talks about the bailout and how it might be a windfall for some getting it!

WaMu Fails.....bailout not quite here....

Washington Mutual has apparently failed.....and tonight it was gobbled up by the FDIC. Well, sort of.....I guess the "good parts" were bought by JPMorgan.

With all the talk of the bailout.....it appears that the financial collapse continues to march along unchecked. (plenty of bad news was released today about rising unemployment, falling factory orders, and other stuff too)

Speaking of the bailout.....that hasn't quite passed yet. I know it isn't easy to spend $700 billion.....but I'd love to just get that chance myself.

Perhaps we will all wake up on Monday to a day of financial certainlty......with everyone smelling the roses.....but I somehow don't think that will be how the next week starts off.

Pray that calm heads prevail in the end.